Vistra Fund Services releases new formation product
09 May 2012 Hong Kong
Image: Shutterstock
Fund administration and fund formation firm Vistra Fund Services has launched a Cayman Islands-based umbrella fund structure product.
The Privium Capital Fund platform allows Vistra Fund Services clients to establish their own segregated portfolio or sub-funds while developing fund management expertise in Hong Kong, the Cayman Islands, the Netherlands and the UK.
The one-stop platform will include administration support from Vistra in its Hong Kong, Luxembourg or Jersey offices. PwC Hong Kong, Cayman Islands and the Netherlands will provide fund-auditing services, and Maples and Calder will provide legal support from the Cayman Islands.
Clients can specify banking and custodian arrangements and they are not limited to any one jurisdiction.
The platform will act as a simple and fast way of designing and establishing new fund structures, and it will provide support in the areas of marketing, set up and design, compliance and approval, and physical office and risk management models.
Charles Kwun, managing director of Vistra Fund Services in Asia, said: “The new Privium Capital Fund adds to our range of services and delivers a higher level of flexibility. It allows clients to have fund and management separately domiciled in a range of locations of their choice, and offers tremendous savings in initial set-up and ongoing costs as well as a short implementation time, which we think will be of particular interest to the Far East and Asian markets. This new flexibility will also help to resolve other logistical factors such as time zone differences, communications and control.”
The Privium Capital Fund platform allows Vistra Fund Services clients to establish their own segregated portfolio or sub-funds while developing fund management expertise in Hong Kong, the Cayman Islands, the Netherlands and the UK.
The one-stop platform will include administration support from Vistra in its Hong Kong, Luxembourg or Jersey offices. PwC Hong Kong, Cayman Islands and the Netherlands will provide fund-auditing services, and Maples and Calder will provide legal support from the Cayman Islands.
Clients can specify banking and custodian arrangements and they are not limited to any one jurisdiction.
The platform will act as a simple and fast way of designing and establishing new fund structures, and it will provide support in the areas of marketing, set up and design, compliance and approval, and physical office and risk management models.
Charles Kwun, managing director of Vistra Fund Services in Asia, said: “The new Privium Capital Fund adds to our range of services and delivers a higher level of flexibility. It allows clients to have fund and management separately domiciled in a range of locations of their choice, and offers tremendous savings in initial set-up and ongoing costs as well as a short implementation time, which we think will be of particular interest to the Far East and Asian markets. This new flexibility will also help to resolve other logistical factors such as time zone differences, communications and control.”
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